Commerce Split Declares Monthly Dividend for Class I and Class II Preferred Shares
New Commerce Split (the "Company") has announced its monthly dividend distribution of $0.02500 per share ($0.30 annually) for Class I Preferred shareholders (YCM.PR.A) and $0.03125 per share ($0.375 annually) for Class II Preferred shareholders (YCM.PR.B). The dividends for Class I Preferred shares are based on an annual rate of 6.00% calculated from the $5 repayment amount, while Class II Preferred shares are paid at an annual rate of 7.50% based on the same $5 repayment amount. These distributions will be paid to shareholders on record.
Overview of Dividend Distribution
Here are the details regarding the monthly distribution:
Class I Preferred Share (YCM.PR.A)
For Class I Preferred Shares, the distribution is set at $0.02500 per share, which translates to an annual payout of $0.30.
Class II Preferred Share (YCM.PR.B)
Class II Preferred shareholders will receive a monthly distribution of $0.03125 per share, resulting in an annual payout of $0.375.
Company's Investment Focus
The Company primarily focuses its investments on common shares of the Canadian Imperial Bank of Commerce, a well-respected financial institution in Canada.
Investor Relations
Investors with inquiries can reach out using the following contact information:
Contact Information
Investor Relations: 1-877-478-2372
Local Contact: 416-304-4443
Email: info@quadravest.com
Website: www.commercesplit.com
Frequently Asked Questions
What is the monthly dividend declared by Commerce Split?
The monthly dividend is $0.02500 for Class I shares and $0.03125 for Class II shares.
When is the record date for the dividends?
The record date for the dividends is August 30, 2024.
When will the dividends be payable?
The dividends will be payable on September 10, 2024.
What are the annual dividend rates for Class I and II Preferred shares?
Class I Preferred shares have an annual rate of 6.00%, while Class II Preferred shares have an annual rate of 7.50%.
What type of institution does Commerce Split invest in?
Commerce Split invests in shares of the Canadian Imperial Bank of Commerce.
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